Community Forex Questions
What is harmonic chart pattern?
By identifying structures that have distinct and consecutive Fibonacci alignments, Harmonic Pattern quantifies and validates harmonic patterns. In these patterns, Fibonacci ratios are used to identify possible market reversals. Harmonic patterns or cycles are based on the assumption that, like other patterns and cycles in life, they repeat continuously. The key to identifying these patterns is to enter or exit a position based on the probability that the same price action will repeat itself.
The following is a list of commonly used chart patterns:
1. Bat
2. Butterfly
3. Gartley
4. Cypher
5. Crab
6. Deep Crab
7. Shark
8. 3 Drives
9. AB=CD
10. 5-0
The Potential Reversal Zone (PRZ) is a critical level of support/resistance for traders in their trading and price action strategies.
Harmonic patterns are a technical analysis tool that can be used to predict future price movements in a trend.  They are created by identifying the lowest and highest low of a given time period, as well as the lowest and highest highs.
Harmonic chart patterns are a form of technical analysis that a data scientist can use to predict price movements. This technique is based on the principle that harmonic charts have an identifiable pattern, and this pattern is repeated over and over again

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